General form of registration statement for all companies including face-amount certificate companies

Notes Payable (Tables)

v3.7.0.1
Notes Payable (Tables)
 3 Months Ended 12 Months Ended
Mar. 31, 2017
Dec. 31, 2016
Debt Disclosure [Abstract]    
Schedule of fair value of warrants

Assumptions used in calculating the fair value of the investor warrants using the Black-Scholes valuation model were:

 

Dividend yield     0%  
Expected volatility     47.5% - 47.7%  
Risk free interest rates     1.73% - 1.76%  
Expected life (in years)     5.0  

Assumptions used in calculating the fair value of the investor warrants using the Black-Scholes valuation model were:

 

Dividend yield     0%  
Expected volatility     47.5% - 47.7%  
Risk free interest rates     1.73% - 1.76%  
Expected life (in years)     5.0  
Schedule of notes payable maturities

Scheduled principal payments as of March 31, 2017 with respect to notes payable are summarized as follows:

 

Years ending December 31,          
2018     $ 2,000,000  
2019        1,975,000  
2020        3,000,000  
Total scheduled principal payments        6,975,000  
Less: Unamortized discounts        (2,330,367 )
          Unamortized deferred financing costs        (52,257 )
      $  4,592,376  

Scheduled principal payments as of December 31, 2016 with respect to notes payable are summarized as follows:

 

Years ending December 31,        
2018   $ 2,000,000  
2019     1,975,000  
2020     3,000,000  
Total scheduled principal payments     6,975,000  
Less unamortized discounts     (2,424,457 )
Less unamortized deferred financing costs     (58,789 )
      $ 4,491,754